Is the Recent Dip in Interest Rates Here to Stay?

Interest rates for a 30-year fixed rate mortgage climbed consistently throughout 2018 until the middle of November. After that point, rates returned to levels that we saw in August to close out the year at 4.55%, according to Freddie Mac’s Primary Mortgage Market Survey.

After the first week of 2019, rates have continued their downward trend. As Freddie Mac’s Chief Economist Sam Khater notes, this is great news for homebuyers. He states,

“Mortgage rates declined to start the new year with the 30-year fixed-rate mortgage dipping to 4.51 percent. Low mortgage rates combined with decelerating home price growth should get prospective homebuyers excited to buy.”

In some areas of the country, the combination of rising interest rates and rising home prices had made some first-time buyers push pause on their home searches. But with more inventory coming to market, continued price growth, and interest rates slowing, this is a great time to get back in the market!

Bottom Line

Even a small increase (or decrease) in interest rates can impact your monthly housing cost. If buying a home in 2019 is on your short list of goals to achieve, let’s get together to find out if you are able to today.

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Oliver and Devinee Overton-MorganReal Estate Broker | Property ManagerGRIMorgan Property Solutions Inc.Orlando Florida(407) 982-7097Most people are overwhelmed and stressed when buying, selling or leasing a Home. We simplify the process and remove the stress, allowing you to focus on what matters most in your life. Thousands of homeowners and renters have trusted our Company for over 12 years to help guide them through the Real Estate market. Our Agents’ experience and resources can help you to save time, money & stress.

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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Oliver and Devinee Overton-Morgan and Keeping Current Matters, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Oliver and Devinee Overton-Morgan and Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.